COMPANY NEWS

COMPANY NEWS; Euro Disney Cuts Losses

Published: January 25, 1995

PARIS, Jan. 24—
Euro Disney, whose theme park outside Paris has lost money since opening in April 1992, said today that it had sharply narrowed its loss in the fourth quarter as a result of cost cutting and higher revenue.

The company reported it lost $20.5 million, down from $104 million in the 1993 fourth quarter.

"Although we still have a lot of work to do, we are very encouraged by the results," Euro Disney's chairman, Philippe Bourguignon, said in a statement.

Euro Disney attributed the lower loss "primarily to the effect of the financial restructuring and increased operating margins" at Disneyland Paris, 18 miles east of Paris.

Operating revenues for the theme park and hotels rose 3.1 percent, to $161 million. Park attendance and hotel occupancy also improved, though not enough to compensate for lower hotel prices, Euro Disney said.